When you work with commercial property landlords with leasing and or property management requirements, it is essential that you provide comprehensive and detailed monthly reports of property activity and location based leasing movement. Any quality property should receive such detailed attention and documentary control.
What is Impressive Reporting?
So you as the specialized commercial property agent or broker can create some impressive reporting formats to support local property activity, asset performance summary, and recent leasing results. Any landlord owning a high quality asset deserves such attention and communication.
Who Needs This?
Focus on the best clients and the best properties as part of providing this reporting and communication service. In that way you can support and drive portfolio growth within a group of quality listings and clients. A perfect reporting process helps you to consolidate and improve client services and outcomes.
Give all the Facts
Here below are some ideas to help you establish a comprehensive landlord reporting process:
- CLIENT REQUIREMENTS: Understand the property and or the leasing process from the client’s perspective. They will have certain factors of property priority and focus that are high on their agenda. They will have particular aspects of property control and timing that will be very important to them. Generally and typically speaking most landlords are focusing firstly on rental cash flow, secondly on tenant occupancy, and thirdly on existing and upcoming lease documentation. After those three particular things are seen to be under control, other things can be looked at in any property report to your client.
- DIVIDE THE FACTS: Split your client or landlord report up into particular segments with logical headings and subheadings targeting the points of client focus. In that way you are showing the client that you totally understand what they are looking for and where they are heading with the property as an investment. Some of the most common headings and sub-headings to merge into your report are income, expenditure, lease documentation, tenancy mix, vacancy factors, maintenance, rent reviews, lease options, and capital expenditure. To those sections or headings you can then add summaries of market activity and the feedback you have received from any recent property inspections involving vacancies.
- MIX VISUAL WITH REAL AND PRACTICAL FACTS: The visual approach is sometimes complimentary and valuable to any client information process. Add some charts and some timelines to the reports that you provide to your client. Help them see the strategies and the issues at play. Offer them some solid recommendations based on market evidence and the facts within your report including income, expenditure, leasing activities, and market trends.
So there are some good things that you can do here when it comes to the landlord and or client reporting that you undertake. If you manage or lease a high quality property for any client, they deserve being supplied with the latest information in a comprehensive way.
Keep your clients fully informed with both property performance and market opportunity. A fully informed client is likely to be a valuable client to you in the future across many categories of activity.